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Registered number: 03692309
McPhersons Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03692309
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 8,924 7,257
8,924 7,257
CURRENT ASSETS
Stocks 6 16,404 21,537
Debtors 7 85,759 122,142
Cash at bank and in hand 64,141 45,177
166,304 188,856
Creditors: Amounts Falling Due Within One Year 8 (106,376 ) (103,231 )
NET CURRENT ASSETS (LIABILITIES) 59,928 85,625
TOTAL ASSETS LESS CURRENT LIABILITIES 68,852 92,882
Creditors: Amounts Falling Due After More Than One Year 9 (19,627 ) (39,379 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,008 ) (1,597 )
NET ASSETS 47,217 51,906
CAPITAL AND RESERVES
Called up share capital 1,100 1,100
Profit and Loss Account 46,117 50,806
SHAREHOLDERS' FUNDS 47,217 51,906
Page 1
Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr C J Chapman
Director
30 December 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
McPhersons Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03692309 . The registered office is Citibase Brighton, 95 Ditchling Road, Brighton, BN1 4ST.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill represents the amounts paid for the Gross Recurring Fee income acquired from two separate businesses in 1999 and 2007. The goodwill was originally being amortised over its estimated useful economic life of 10 years from 1 April 2014, the date of the transition to FRS102.
In the year ended 31 March 2021 the directors decided that the useful economic life was less than 10 years and that the goodwill had no value after 31 March 2020. The goodwill has been fully amortised since 31 March 2020.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold in accordance with the property
Office Equipment 25% per year on a reducing balance basis
Website Development 25% per year on a reducing balance basis
Fixtures & Fittings 25% per year on a reducing balance basis
Computer Equipment 25% per year on a reducing balance basis
2.5. Stocks and Work in Progress
Work in progress is valued at selling price.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
...CONTINUED
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2.6. Taxation - continued
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2024: 6)
6 6
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 180,000
As at 31 March 2025 180,000
Amortisation
As at 1 April 2024 180,000
As at 31 March 2025 180,000
Net Book Value
As at 31 March 2025 -
As at 1 April 2024 -
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5. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 April 2024 3,915 20,466 24,381
Additions - 5,128 5,128
Disposals (3,915 ) (8,120 ) (12,035 )
As at 31 March 2025 - 17,474 17,474
Depreciation
As at 1 April 2024 3,915 13,209 17,124
Provided during the period - 2,248 2,248
Disposals (3,915 ) (6,907 ) (10,822 )
As at 31 March 2025 - 8,550 8,550
Net Book Value
As at 31 March 2025 - 8,924 8,924
As at 1 April 2024 - 7,257 7,257
6. Stocks
2025 2024
£ £
Stock and work in progress 16,404 21,537
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 79,153 108,472
Other debtors 6,606 13,670
85,759 122,142
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8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 2,830 1,443
Bank loans and overdrafts 11,688 10,033
Other creditors 34,076 34,308
Taxation and social security 57,782 57,447
106,376 103,231
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans - 11,680
Amounts owed to participating interests 19,627 27,699
19,627 39,379
The above amount owed to participating interests is owed to the company's director Mr C J R Chapman. Mr C J R Chapman charges interest at a rate of 6% above the Bank of England Base Rate, per annum, calculated on a daily basis throughout the year.
Banking facilities were secured by an unlimited debenture and a limited guarantee, capped at £120,000, from the company's director, Mr C J R Chapman.
10. Ultimate Controlling Party
The company's director Mr C J R Chapman controls the company by virtue of owning 100% of the Ordinary "A" shares.
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